China’s online travel giant Trip.com Group said both of its domestic and international businesses maintained robust growth momentum in the first quarter of 2024.
- Domestic hotel and air bookings each increased by over 20% year over year.
- Outbound hotel and air bookings both increased by over 100% year over year.
- Total revenue generated from the global OTA platform Trip.com increased by around 80%.
Net revenue for the first quarter increased by 29% compared to the same period in 2023. Net income for the first quarter was RMB 4.3 billion (USD 599 million), compared to RMB 3.4 billion for the same period in 2023.
“The year 2024 has begun with a significant increase in both domestic and outbound travel demand in China, facilitated by a more stabilized supply and further relaxation of visa requirements,” said Executive Chairman, James Liang.
